Fed's Hammack Says Broad-Based Inflation, Ongoing Growth Need Restrictive Monetary Policy; Trend Inflation Currently In The Mid-To-High 2% Range, Expect It Will Take Some Time To Return To 2% Target Even With Appropriate Monetary Policy; Would Prefer Fed Make Smaller Adjustments To Policy Rate But Do So 'relatively Quickly'; Energy Is Not Only Factor, With Strong Demand Also Contributing To Price Pressures; Stable Labor Market Leaves Room To Address Inflation
Fed's Hammack Says Broad-Based Inflation, Ongoing Growth Need Restrictive Monetary Policy; Trend Inflation Currently In The Mid-To-High 2% Range, Expect It Will Take Some Time To Return To 2% Target Even With Appropriate Monetary Policy; Would Prefer Fed Make Smaller Adjustments To Policy Rate But Do So 'relatively Qui